Cenex, MEC form new
company in joint venture

January 18, 2001
Seeley Swan Pathfinder
Seeley Lake, Montana

Earlier this year Cenex Harvest States and Missoula Electric Cooperative
began discussion to find out if together they would be able to
better serve their customers. After many long hours of discussion
between the two cooperatives, a decision was made. It was decided
that a separate company focused exclusively on propane service
would best be able to respond to the opportunities as well as
the challenges of this rapidly changing market.

The Boards of Directors of both Cenex Harvest States and Missoula
Electric Cooperative approved formation of a new propane company
called Energy Partners, LLC. The new company will be jointly owned
by the two cooperatives. Energy Partners, LLC will acquire the
propane assets of Cenex Harvest States, Missoula Region, and will
assume service to all Cenex propane customers beginning January
1, 2001. The new company office will be located in the Missoula
Electric Cooperative building, 1700 West Broadway, Missoula.

The transition to the new company will bring changes, but they
will be virtually unnoticeable by the customer. The propane deliveries
will be made the same as they have been. You will still call your
local Cenex to place your order and to have any questions you
may have answered. The only immediate change will be in the billing.
This will be in the introduction of a new monthly statement for
your propane that will be much easier to understand than the current
format. This will, however, mean that if you patronize Cenex for
more than just propane, you will receive two bills.

Both Cenex Harvest States and Missoula Electric Cooperative
want to make the transition smooth for all of their customers
and would be more than happy to hear from you with both your concerns
and to answer your questions. Energy Partners, LLC will allow
the coops to combine their efforts in the continuing pursuit of
bringing the best products and service to their customers who
we know make our business what it is.

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